Business, 11.02.2020 20:37 sabrinabowers1002
Currently, at a price of $0.50 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $0.50 to $1 is unit-elastic (Es = 1). In the long run, a price increase from $0.50 to $1 has an elasticity of supply of 1.50. (Hint: Apply the midpoints approach to the elasticity of supply.)a. How many popsicles will be sold each day in the short run if the price rises to $1 each?
b. So how many popsicles will be sold per day in the long run if the price rises to $1 each?
Answers: 2
Business, 22.06.2019 20:50
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How an absolute advantage might affect a country's imports and exports?
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Petra contracted to paint bret’s house for $2,000. after beginning the job, petra realizes that the house is really quite big, and she’s not going to make enough profit, so she tells bret she wants another $500 to finish the job. bret doesn’t want to pay more, but he’s afraid that if she walks off the job, he’ll have trouble finding someone else to finish it, so he agrees. is bret legally obligated to pay the extra $500?
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Currently, at a price of $0.50 each, 100 popsicles are sold per day in the perpetually hot town of R...
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